Framingham, MA - Home Sales and Real Estate Market Report (Feb, 2013)

The Framingham Homes For Sale Market Report

Wow. This home sales report for Framingham makes no sense to me. Let's start with the headline number. The HSI went up (over the winter now - the "slow" market-) to 129 from 118. Both of those are pretty ridiculous numbers. Now lets look at the number of active homes for sale. They have dropped on the chart from 218 down to 97. That's a reduction of over 50%. Then we look at the days on market, again, a super-strong 89 for homes that have sold. (Anything under 90 is really spectacular). So all that data is pretty un-ambiguous - the market is red-hot. And what do I see? Prices are down. Not a lot, but they should be going up.

Where does that leave us? Well Home Sellers are going to be really happy with my market prediction for Framingham. Home Prices are going up. I expect them to go up sharply this spring. And I don't think that it will matter - buyers will keep the pressure on. There is clearly outsizes demand in Framingham, and it's likely being fueled by rising prices in Natick and Boston, which show no signs of slowing down. Can't wait to see how it turns out when the June prices come through. The only think that shocks me is that sellers have been happy to keep the status quo and aren't pushing prices up on their own.

*All statistics are for Single Family Houses and based on data in MLS.

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